A fixed rate, locked in
The rate is fixed when you book the deposit, so the maturity is certain whatever markets do. The trade-off is that the rate cannot rise with inflation either — so match the tenure to when you need the money.
Free FD calculator
FD Calculator
Enter your deposit, the rate your bank quotes and the tenure — and get the maturity value, the interest earned and the effective yearly return, with the working and the year-by-year growth shown.
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₹1,41,478
Maturity on ₹1,00,000 for 5 years at 7%
7.19% a year
Effective return on the sample deposit
Quarterly compounding
The Indian bank standard
A projection at the rate you enter, not financial advice. This tool projects your FD maturity at the rate you enter — it is not financial advice. The rate is the one your bank quotes for that tenure, and it changes often; check the bank's current rate card before you deposit. The projection assumes the rate stays fixed for the whole tenure.
Calculate FD maturity
₹1,00,000 for 5 years at 7%Example figures are filled in. Replace them with your own numbers.
YOUR ANSWER
WORKING SHOWN BELOW
Your answer
₹41,478
INTEREST EARNED
₹1,00,000
YOUR DEPOSIT
7.19%
EFFECTIVE RETURN / YEAR
Your answer at a glance
₹1,00,000 for 5 years at 7% compounded quarterly → ₹1,41,478 (₹1,00,000 deposited + ₹41,478 interest; 7.19% a year).
Year 1: opening 1,00,000, interest 7,186, closing 1,07,186.
Maturity = 1,00,000 deposited + 41,478 interest = 1,41,478.
Interest compounds quarterly: each period's interest is added to the balance and earns interest itself. Only the final maturity is rounded to the nearest rupee.
No TDS on this deposit — no single year's interest crosses the ₹50,000 threshold. (TDS is checked on all your deposits at the bank together, not just this one.)
The projection holds the rate you enter constant for the whole tenure. Banks change FD rates often, so check the current rate card before you deposit.
Recent checks · this session
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Your growth, year by year
Year by year: how the deposit grows
Year-by-year growth of ₹1,00,000 at 7% compounded quarterly over 5 years.
| Year | Opening balance | Interest | Closing balance |
|---|---|---|---|
| Year 1 | ₹1,00,000 | ₹7,186 | ₹1,07,186 |
| Year 2 | ₹1,07,186 | ₹7,702 | ₹1,14,888 |
| Year 3 | ₹1,14,888 | ₹8,256 | ₹1,23,144 |
| Year 4 | ₹1,23,144 | ₹8,849 | ₹1,31,993 |
| Year 5 | ₹1,31,993 | ₹9,485 | ₹1,41,478 |
Understand the result
What does an FD calculator do?
A fixed deposit is the simplest guaranteed return in India: you lock a lump sum with a bank for a fixed tenure, the bank pays a fixed rate, and at maturity you get the deposit back plus interest. This calculator works out exactly what that adds up to — the maturity value, the interest earned and the effective yearly return — for cumulative deposits that reinvest the interest and for payout deposits that pay it out, at the compounding frequency your bank actually uses.
Quarterly, the Indian standard
Most Indian banks add the interest to the balance every quarter, so each quarter earns interest on interest. Monthly compounding pays a little more; annual compounding pays a little less. This calculator lets you pick the frequency your bank uses.
DICGC cover
Bank deposits are insured up to ₹5 lakh per depositor per bank, principal and interest together, by DICGC, an RBI subsidiary. Split deposits above ₹5 lakh across banks to keep the whole amount insured.
How it works
From one deposit to a maturity value
Enter the deposit first — the rate and tenure are already filled in with the usual figures — then read the maturity, the breakup and the year-by-year table.
Enter your deposit
The lump sum you will lock away — from ₹1,000 to ₹1,00,00,000. This calculator models one deposit, not monthly instalments.
Check the rate, tenure and compounding
The rate is pre-filled at 7%, the rate large banks pay on 5-year deposits. Pick the tenure in years and months, and how often interest compounds — quarterly is the Indian bank standard.
Choose cumulative or payout
Cumulative reinvests the interest so it compounds; non-cumulative pays the interest out, so the maturity is the deposit plus simple interest.
Read the maturity and the breakup
The answer appears as you type — maturity value, interest earned and the effective yearly return — with the step-by-step working and the year-by-year table underneath.
The calculation, explained
How FD maturity is calculated
A cumulative FD compounds: each period's interest is added to the balance and earns interest itself. The formula is M = P × (1 + r ÷ (100 × n))^(n × t), where P is the deposit, r the yearly rate, n the compounding frequency (4 for quarterly) and t the tenure in years. A non-cumulative FD pays simple interest out instead: interest = P × r ÷ 100 × t, and the maturity is the deposit plus that interest. The effective yearly return is (maturity ÷ deposit)^(1 ÷ t) − 1.
1. First year: interest on the deposit
1,00,000 × 7 ÷ 100, compounded quarterly = 7,186
Four quarters of compounding in the first year. Closing balance: 1,07,186.
2. Five years of compounding
1,00,000 deposited · 41,478 interest
Each quarter's interest is added to the balance, so the next quarter's interest is earned on a bigger sum.
3. Maturity after 5 years
1,00,000 + 41,478 = 1,41,478
Effective yearly return 7.19% — higher than the quoted 7%.
Quarterly compounding is where the extra money hides
At 7% a year, simple interest on ₹1,00,000 for 5 years is ₹35,000. Compounded quarterly it is ₹41,478 — ₹6,478 more — because each quarter's interest earns interest too. That is why the effective yearly return is 7.19%, not 7%.
Worked examples
Four deposits, four maturities
One example for each everyday case. Select any example to load it into the calculator and check the working for yourself.
₹1,00,000 for 5 years at 7% grows to ₹1,41,478
₹1,00,000 deposited; the interest adds ₹41,478, so the maturity is ₹1,41,478 — quarterly compounding lifts the effective return to 7.19% a year.
₹1,00,000 × 5 years @ 7% → ₹1,41,478 (interest ₹41,478)
₹5,00,000 for 5 years at 7.25% grows to ₹7,16,130
₹5,00,000 deposited; the interest adds ₹2,16,130, so the maturity is ₹7,16,130. The biggest single year's interest is ₹49,649 — just under the ₹50,000 TDS threshold.
₹5,00,000 × 5 years @ 7.25% → ₹7,16,130 (interest ₹2,16,130)
₹10,00,000 for 3 years at 7% grows to ₹12,31,439
₹10,00,000 deposited; the interest adds ₹2,31,439. A year's interest reaches ₹82,557, so the bank will deduct 10% TDS on the interest it pays that year.
₹10,00,000 × 3 years @ 7% → ₹12,31,439 (interest ₹2,31,439)
₹50,000 for 1 year at 6.5% grows to ₹53,330
₹50,000 deposited; the interest adds ₹3,330, so the maturity is ₹53,330 — a one-year deposit for money you need soon.
₹50,000 × 1 years @ 6.5% → ₹53,330 (interest ₹3,330)
FD rules at a glance
FD rules at a glance
The rules that decide what your fixed deposit actually pays: compounding, tenure, deposit insurance, TDS and tax. Rates are the ones your bank quotes — they change often, so check the rate card before you deposit.
| Figure | Rule | What it means |
|---|---|---|
| Quarterly | How interest compounds | Most Indian banks compound FD interest quarterly — each quarter's interest is added to the balance and earns interest itself. |
| 7 days – 10 years | Tenure range | Banks accept FDs from 7 days to 10 years; this calculator models tenures of 1 to 10 years. |
| ₹5 lakh | DICGC deposit insurance | Bank deposits are insured up to ₹5 lakh per depositor per bank, principal and interest together, by DICGC, an RBI subsidiary. |
| 10% TDS | Tax deducted at source | Banks deduct 10% TDS (20% without PAN) when a year's interest crosses ₹50,000 — ₹1,00,000 for senior citizens — from 1 April 2025 (Section 194A). |
| Fully taxable | Tax on the interest | FD interest is added to your income and taxed at your slab rate; TDS is only an advance collection, not the final tax. |
| +0.50% | Senior citizen bonus | Most banks pay senior citizens about 0.25–0.50% more — a common convention, not a guaranteed rate; confirm with your bank. |
| 0.5–1% | Premature withdrawal penalty | Breaking an FD early usually costs 0.5–1% off the applicable rate; the exact penalty is set by each bank. |
| No fixed rate | The rate you earn | FD rates move with the RBI repo rate and differ by bank and tenure — large banks pay roughly 6–7% on 1–5 year deposits; always check the bank's current rate card. |
The rate is the only figure that moves — it is set by each bank and moves with the RBI repo rate. The compounding, insurance, TDS and tax rules are fixed by law and by the RBI.
Common mistakes
Four ways to get FD wrong
The formula is short, but four readings trip people up. Each one can cost thousands over five years.
Multiplying the rate by the years
₹1,00,000 at 7% for 5 years is not ₹35,000 of interest — quarterly compounding makes it ₹41,478. Simple interest understates every FD by thousands.
Counting the full interest as yours
Once a year's interest crosses ₹50,000 (₹1,00,000 for seniors), the bank deducts 10% TDS. On a ₹10,00,000 deposit the TDS is real money — this page flags it for your figures.
One bank, one ₹5 lakh limit
DICGC insures ₹5 lakh per depositor per bank, principal and interest together. A ₹10,00,000 FD at one bank leaves more than half uninsured — split large deposits across banks.
Nominal rates hide the compounding
7% compounded monthly beats 7% compounded annually by ₹1,508 on ₹1,00,000 over 5 years. Compare the effective yearly return, not the quoted rate — this calculator shows both.
Your questions, answered
FD calculator FAQs
What is a fixed deposit?
A fixed deposit (FD) is a lump sum you lock with a bank for a fixed tenure at a fixed interest rate. The bank pays you back the deposit plus interest at maturity. Unlike a savings account, you cannot withdraw freely — breaking the deposit early usually costs a penalty — but the return is guaranteed, and bank deposits are insured up to ₹5 lakh per depositor per bank by DICGC.
How is FD maturity calculated?
For a cumulative FD, the formula is M = P × (1 + r ÷ (100 × n))^(n × t), where P is the deposit, r the yearly rate, n how often interest compounds each year (4 for quarterly) and t the tenure in years. At 7% compounded quarterly, ₹1,00,000 for 5 years becomes ₹1,41,478: ₹1,00,000 deposited plus ₹41,478 of interest. The effective yearly return is 7.19% — higher than the quoted 7% because each quarter's interest earns interest too.
What is the difference between a cumulative and a non-cumulative FD?
A cumulative FD reinvests the interest, so it compounds and is paid with the deposit at maturity — ₹1,00,000 at 7% for 5 years grows to ₹1,41,478. A non-cumulative FD pays the interest out monthly, quarterly or annually, so the same deposit pays ₹7,000 a year and returns ₹1,35,000 at maturity. Cumulative earns more over the same tenure; non-cumulative suits people who want a regular income.
How often is FD interest compounded?
Most Indian banks compound FD interest quarterly — every three months the interest is added to the balance and starts earning interest itself. Some banks and NBFCs compound monthly, half-yearly or annually. This calculator lets you pick the frequency: monthly compounding on ₹1,00,000 at 7% for 5 years gives ₹1,41,763, quarterly gives ₹1,41,478 and annual compounding gives ₹1,40,255.
How much TDS is deducted on FD interest?
Banks deduct 10% TDS when the interest they pay you in a financial year crosses ₹50,000 — ₹1,00,000 for senior citizens — from 1 April 2025 under Section 194A of the Income-tax Act. Without a PAN the rate is 20%. TDS is an advance collection, not the final tax: the interest is still taxed at your slab rate. If your total income is below the taxable limit, submit Form 15G (or 15H for senior citizens) so the bank skips TDS.
Is FD interest taxable?
Yes — FD interest is added to your income and taxed at your slab rate, in the year it accrues, whether you take it as a payout or at maturity. Senior citizens get a deduction of up to ₹50,000 a year on interest income under Section 80TTB. PPF interest, by contrast, is fully tax-free — compare the two on our PPF calculator before choosing.
Are fixed deposits safe?
Bank fixed deposits are among the safest places for your money: the Deposit Insurance and Credit Guarantee Corporation (DICGC), an RBI subsidiary, insures deposits up to ₹5 lakh per depositor per bank, principal and interest together, across all your accounts at that bank. The cover has been ₹5 lakh since February 2020. Deposits with NBFCs and companies are NOT covered by DICGC, so a higher NBFC rate carries real credit risk.
What happens if I break my FD early?
You can usually break an FD before maturity, but the bank pays the rate for the period actually completed, minus a premature-withdrawal penalty of typically 0.5–1%. The exact penalty is set by each bank and is printed on the FD receipt. Some special deposits — tax-saving FDs with a 5-year lock-in — cannot be broken at all.
Does this calculator send my numbers anywhere?
No. Every calculation runs entirely on this page — nothing is sent to a server, nothing is stored, and reloading the page clears your recent checks.
About the method
This page uses the standard FD formula: M = P × (1 + r ÷ (100 × n))^(n × t) for cumulative deposits, with n = 4 for quarterly compounding — the Indian bank standard — and simple interest for non-cumulative deposits. Only the final maturity is rounded to the nearest rupee; each schedule row's interest is its closing balance minus its opening balance, so the rows add up exactly to the total interest. The senior-citizen toggle adds 0.50% to the quoted rate, the common bank convention — confirm your bank's actual bonus before you deposit.
Rate checked 11 November 2026: the rate is user-entered; the 7% default matches the rate large banks paid on 5-year deposits as of September 2026, when the RBI repo rate was 5.25%. Cross-checked against the ranking FD calculators: ₹1,00,000 at 7% for 5 years compounded quarterly gives ₹1,41,478 on calcsolver.in, and ₹5,00,000 at 7.25% for 5 years gives ₹7,16,130 on aalekh.ai. The TDS thresholds (₹50,000; ₹1,00,000 for senior citizens, from 1 April 2025) are from Section 194A of the Income-tax Act as amended by the Finance Act 2025. The ₹5 lakh DICGC cover is from DICGC's "A Guide to Deposit Insurance" (dicgc.org.in). TDS is checked on all your deposits at one bank together in a financial year, not on a single FD alone — so a deposit that shows no TDS here can still attract TDS when combined with your other deposits at the same bank.
Check another plan before you start
Try different numbers — or run the same check with the related tools for your other plans.